Dhoni sparks debate on performance of match officials



MS Dhoni, the India captain, has warned that match officials must improve their performance, fuelling a fresh debate on the controversial Umpire Decision Review System (UDRS).

"There are two gentlemen standing on the ground as umpires," Dhoni said yesterday ahead of his side's first Test with New Zealand in Ahmedabad, which starts today.

"They are professionals and paid to do their job. They have got support from the TV umpire. So it is surprising to see them making some of the mistakes. They have to step up and perform."

Dhoni, however, said he was not in favour of implementing the UDRS, which allows players to appeal against a decision made by the on-field umpires.

"I have mixed opinion on the UDRS," he said. "It is not something that gives 100 per cent results. It is not always correct. It is like I have to buy a life jacket but it does not come with a warranty."

India are coming off a 2-0 home series win over Australia, and Daniel Vettori, the New Zealand captain, is aware of the scale of the task his side faces against the top-ranked Test team in the world.

"The talent and success they have is awesome," he said.

Meanwhile, Sri Lanka claimed a stunning one-wicket victory over Australia in their opening one-day international yesterday, courtesy of a record-breaking ninth wicket partnership by Angelo Mathews and Lasith Malinga.

Looking dead and buried at 107 for eight as they chased Australia's 239 for eight in Melbourne, the Sri Lankans roared home on the back of a sensational 132-run stand from man-of-the-match Mathews and the fast bowler Malinga.The second game in the three-match series is tomorrow.

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Small Victories: The True Story of Faith No More by Adrian Harte
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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2015-2017: Shanghai SIPG – 20 apps, 7 goals

2016-2017: Al Ahli (loan) – 25 apps, 11 goals

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  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

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